Crypto News

Ethereum Layer 2 Blast Kicks Off With A Bang, Surpassing $109M In Total Value Locked (TVL)

In a notable stride towards enhancing Ethereum’s scalability, Ethereum Layer 2 Blast has made its debut in early access mode. With substantial financial backing of $20 million from investors such as Standard Crypto and Paradigm, Blast aims to set the stage as a frontrunner in Ethereum Layer 2 solutions, introducing an innovative native yield model.

Over $40 Million Announcement In Additional Funding Support 

Leading the charge is Tieshun Roquerre, affectionately known as “Pacman,” renowned for creating the NFT marketplace Blur. Pacman now spearheads both the development of Blur and Blast, announcing an additional $40 million in funding to fortify the broader Blur ecosystem, which features Layer 2 applications dedicated to NFTs.

BLAST Total Value Locked Hits Massive Milestone Of $109 million

Despite being in its nascent stages, Blast has quickly garnered attention within the crypto community. Lookonchain data highlights Blast’s Total Value Locked (TVL) crossing an impressive $109 million mark. Noteworthy transactions include Blast_L2 depositing 45,654 $ETH ($91 million) into #Lido, converting stablecoins to 18 million $DAI, and subsequently depositing it into #Maker.

Final Thoughts 

An X post by Blast revealed a significant surge in community engagement, welcoming 23,368 new users within the past 24 hours. This influx underlines the project’s allure and positions Blast as a dynamic player in Ethereum’s ongoing scalability narrative.

As Ethereum Layer 2 Blast gains momentum and captures user interest, the crypto community eagerly anticipates its impact on fortifying Ethereum’s scalability and contributing to broader blockchain ecosystem development.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: nexusplexus/123RF // Image Effects by Colorcinch

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